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I’m Megan Edwards for Investmentpitch Media

Willow Biosciences and Noramco, Inc. have entered into an exclusive Joint Development Agreement to collaboratively develop a yeast-based biosynthesis platform for the production and distribution of CBD.

As a technology platform, biosynthesis can provide a low-cost, ultra-pure and scalable manufacturing solution for pharmaceutical, food, beverage and personal care consumers of CBD.

The work conducted in the joint development agreement has the potential to open new and larger markets for CBD and related compounds.

Headquartered in Calgary, Alberta, Willow and its team of scientists are leaders in the field of biosynthetic production of high value plant-derived compounds.

Willow has applied its integrated suite of technologies to develop manufacturing processes for numerous active pharmaceutical ingredients with various therapeutic benefits, including cancer treatment, pain management, and CNS disorders.

In the cannabinoid field, Willow owns proprietary yeast-based lab strains that produce CBD, THC, and CBG, as well as certain minor and novel cannabinoids.

Headquartered in Wilmington, Delaware, with facilities in the state of Georgia and Switzerland, Noramco (www.noramco.com) is the world's largest producer of high-quality synthetic cannabinoid active pharmaceutical ingredients (APIs) for the pharmaceutical and healthcare industry.

The company offers cannabinoids and other controlled substance APIs for use in abuse deterrence, attention deficit disorder, pain management, and addiction management.

Dr. Joseph Tucker, Willow's Executive Chairman, stated: "Noramco is a world-class organization with a long history of developing APIs across numerous markets and is the market leader in synthetically-produced CBD. They are the obvious first choice as a partner to scale the development of our CBD biosynthesis program. Noramco's global leadership in the production and sales of cannabinoids to pharmaceutical companies will naturally lead into manufacturing and sales into additional non-pharmaceutical markets."

Under the agreement, Willow will be responsible for optimizing yeast strains in a biosynthetic process that will generate ultrapure CBD at high yield and at substantially lower cost compared to current methods.

Noramco, given its existing expertise in the production of CBD and related compounds and its experience in delivering them in clinical and pharmaceutical applications, will be responsible for scale-up, regulatory submission, marketing and distribution.

The parties will cover their respective costs, retain the intellectual property associated with their respective scopes of work and, as allowed by existing agreements, share equally in gross profits from sales of CBD manufactured under the JDA.

Bill Grubb, Noramco's Chief Innovation Officer and VP Global Business Development, added: "The addition of biosynthetic CBD production will augment Noramco's ability to work with our existing customers and the capacity to address the rapidly increasing market demand for CBD-based APIs and ingredients from pharmaceutical, nutraceutical, consumer packaged goods, beverage and other industry sectors. We are excited to be working with the world class team at Willow and are confident in their ability to deliver scalable, CBD-producing strains to Noramco."

The shares of Willow Biosciences, which started trading on the Canadian Securities Exchange on April 15th, are currently trading at $1.85.

For more information, please visit the company’s website www.willowbio.com, contact Trevor Peters, President & CEO at 403-669-4848 or email t.peters@willowbio.com or Troy Talkkari, VP Corporate Development, at 403-618-1117 or by email at t.talkkari@willowbio.com.